RSU vesting boosts Trupanion (TRUP) director Howard Rubin’s stake

Rhea-AI Filing Summary

Trupanion director Howard E. Rubin reported acquiring common shares through restricted stock unit (RSU) vesting. On February 22, 2026, 318 RSUs converted on a one-for-one basis into 318 shares of Trupanion common stock at $0.00 per share via derivative exercises coded “M.”

These RSUs stem from three grants of 423 units each received on May 9, 2025 for service on boards of wholly owned subsidiaries, vesting in four equal quarterly installments. Following these conversions, Rubin directly owned 232,550 shares of Trupanion common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RUBIN HOWARD E

(Last) (First) (Middle)

C/O TRUPANION, INC.

6100 4TH AVENUE SOUTH, SUITE 200

(Street)

SEATTLE WA 98108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TRUPANION, INC. [ TRUP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/22/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/22/2026		M		106	A	(1)	232,338	D
Common Stock	02/22/2026		M		106	A	(1)	232,444	D
Common Stock	02/22/2026		M		106	A	(1)	232,550	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit (RSU)	(1)	02/22/2026		M			106	(2)	05/22/2026(2)	Common Stock	106	$0	106	D
Restricted Stock Unit (RSU)	(1)	02/22/2026		M			106	(2)	05/22/2026(2)	Common Stock	106	$0	106	D
Restricted Stock Unit (RSU)	(1)	02/22/2026		M			106	(2)	05/22/2026(2)	Common Stock	106	$0	106	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. On May 9, 2025, the reporting person received three separate grants of 423 RSUs each in connection with his service on the board of directors of wholly-owned subsidiaries of the Issuer. The RSUs vest and convert into common stock of the Issuer as to 1/4th of the total shares on each of August 22, 2025, November 22, 2025, February 22, 2026, and May 22, 2026, subject to continued service through each vest date.

Remarks:

	/s/ Lauren Welsh as attorney-in-fact for Howard E. Rubin	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did Trupanion (TRUP) report for Howard E. Rubin?

Howard E. Rubin reported RSU-based acquisitions of Trupanion stock. On February 22, 2026, 318 restricted stock units converted into 318 common shares at $0.00 per share, reflecting routine equity compensation rather than open-market buying or selling activity.

How many Trupanion shares does Howard E. Rubin own after this Form 4 filing?

After the reported RSU conversions, Howard E. Rubin directly owned 232,550 shares of Trupanion common stock. This total reflects the addition of 318 shares received upon the vesting and one-for-one conversion of restricted stock units on February 22, 2026.

What is the origin of the RSUs reported in Trupanion (TRUP) director Howard Rubin’s Form 4?

The RSUs come from three separate grants of 423 units each awarded on May 9, 2025. They were granted in connection with Rubin’s service on boards of Trupanion’s wholly owned subsidiaries as part of his equity-based compensation package.

How do the Trupanion RSUs convert into common stock for Howard E. Rubin?

The restricted stock units convert into Trupanion common stock on a one-for-one basis. For this filing, 318 RSUs vested on February 22, 2026 and were exercised under code “M,” resulting in 318 newly issued common shares at no cash exercise price.

What is the vesting schedule for Howard Rubin’s Trupanion RSU grants from May 9, 2025?

Each of the three 423-unit RSU grants vests in four equal installments. One-quarter of the total shares vests on August 22, 2025, November 22, 2025, February 22, 2026, and May 22, 2026, subject to Rubin’s continued service through each vesting date.

Does the Form 4 for Trupanion (TRUP) show any stock sales by Howard E. Rubin?

The Form 4 shows no stock sales by Howard E. Rubin. All reported transactions use code “M” for derivative exercises, reflecting RSU vesting and conversion into common stock, with no indicated open-market buying or selling activity in this filing.